Chris Padginton
Director, Private Clients
Chris joined 7IM in 2019 and has been in the industry for a decade. Whilst at 7IM, he has built long-term relationships with a wide range of clients and their families, helping them to achieve their financial goals.
Outside of work, Chris enjoys spending time with his young family and having recently moved house, is kept busy by an extensive list of jobs!
7 Questions with Chris
1. How did you get into wealth management?
I hadn’t originally set out to join the wealth management space, and a passion for cars initially took me on a different path. However, after meeting one of the original ‘seven’ founders of 7IM, my interest in wealth management grew and I soon realised my experience in relationship management and finance would be an ideal fit. After gaining some initial experience in the city, I joined 7IM and haven’t looked back since!
2. What’s the biggest highlight of your career in wealth management?
Highlights often revolve around a specific number, or a series of them, but for me it’s more than that. I measure my success on the quality of relationships I have with my clients, many of whom have kindly introduced me to their friends and family who now also benefit from our help. It’s this level of trust they place in me, that has been my real highlight.
3. What do you find most rewarding about managing people’s wealth?
Being able to help! In my role, I get to work with a wide range of successful people, all of whom have benefitted from wealth management in one form or another. Adding real value to someone’s financial situation and then seeing the results over time is extremely rewarding.
4. What’s the worst non-financial investment you’ve made?
A love of cars has meant I’ve made several purchases which may not be considered sensible, but my worst investment didn’t have four wheels. I once got a little carried away at a charity auction and paid far too much for a James Bond movie poster, signed by none other than Roger Moore himself. Sadly, I discovered in the weeks that followed the poster I’d purchased was far from ‘exclusive’ and unlikely to increase in value! I ended up selling it later for a substantial loss. So, whilst it’s reassuring to know the proceeds of my impulsive bid went to a good cause, I would strongly suggest looking elsewhere for any film-related memorabilia advice!
5. If you could pick one financial habit for everyone to have, what would it be?
To gain a good understanding of the basics first.
To build wealth, it’s important first to have a good understanding of your current financial situation, including your incomings and outgoings. Having this knowledge will help you budget where necessary but also give you the confidence to enjoy your money!
We can help build on this knowledge through our cash flow modelling tools, which will highlight any areas that need reviewing, and just maybe provide you with the reassurance you were looking for to make that dream purchase – provided of course that purchase isn’t a signed movie poster!
6. In your experience, how important is it for families to have conversations with younger generations about money?
Be it with friends or family, we don’t typically talk about money. It can be an emotive subject that tends not to get discussed. The subject of money was seldom covered during my school years, and while today’s generations have the benefit of the internet, this comes with its own challenges. In my view, discussing money within the family is more important than ever, to ensure the next generation is equipped with an accurate understanding of money. Who knows, they may even choose to have a career in the world of finance one day!
7. What is the most important skill for a wealth manager?
Empathy. Every client I work with is different, so being able to understand their situations and the stage of life they’re in is crucial. The better understanding I have, the better placed I am to help support them in achieving their financial goals.
